Northcoast Research Downgrades MSC Industrial Direct (NYSE:MSM) to Neutral

MSC Industrial Direct (NYSE:MSM) was downgraded by equities researchers at Northcoast Research from a “buy” rating to a “neutral” rating in a research note issued on Friday, Marketbeat.com reports. They currently have a $74.00 price target on the industrial products company’s stock, down from their previous price target of $89.00. Northcoast Research’s price objective indicates a potential upside of 2.00% from the stock’s current price. Northcoast Research also issued estimates for MSC Industrial Direct’s Q4 2019 earnings at $1.27 EPS, FY2019 earnings at $5.27 EPS, Q1 2020 earnings at $1.31 EPS, Q2 2020 earnings at $1.22 EPS and Q4 2020 earnings at $1.42 EPS.

A number of other analysts have also issued reports on MSM. Raymond James restated a “hold” rating on shares of PrairieSky Royalty in a report on Thursday. Gordon Haskett lowered MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $72.02 target price for the company. in a report on Monday, June 10th. William Blair restated a “market perform” rating on shares of Luminex in a report on Tuesday, May 7th. BMO Capital Markets reduced their target price on MSC Industrial Direct from $90.00 to $86.00 and set a “market perform” rating for the company in a report on Thursday, April 11th. Finally, Buckingham Research reduced their target price on PJT Partners from $49.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. MSC Industrial Direct currently has an average rating of “Hold” and an average target price of $80.70.

Shares of NYSE:MSM opened at $72.55 on Friday. MSC Industrial Direct has a one year low of $67.25 and a one year high of $90.25. The firm’s fifty day moving average is $72.39. The firm has a market cap of $4.00 billion, a P/E ratio of 13.66, a PEG ratio of 1.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.50 and a quick ratio of 1.18.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, July 10th. The industrial products company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.05). MSC Industrial Direct had a net margin of 8.79% and a return on equity of 21.08%. The company had revenue of $866.50 million for the quarter, compared to analyst estimates of $881.62 million. During the same quarter last year, the company posted $1.39 EPS. MSC Industrial Direct’s revenue was up 4.6% on a year-over-year basis. As a group, research analysts expect that MSC Industrial Direct will post 5.33 earnings per share for the current fiscal year.

In other news, EVP Steven N. Baruch sold 5,404 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $82.00, for a total value of $443,128.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Douglas E. Jones sold 2,126 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $83.50, for a total transaction of $177,521.00. Following the completion of the transaction, the executive vice president now directly owns 7,496 shares in the company, valued at $625,916. The disclosure for this sale can be found here. 27.96% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Martingale Asset Management L P acquired a new position in shares of MSC Industrial Direct in the fourth quarter worth $736,000. Federated Investors Inc. PA increased its stake in shares of MSC Industrial Direct by 7.3% in the first quarter. Federated Investors Inc. PA now owns 229,737 shares of the industrial products company’s stock worth $19,002,000 after acquiring an additional 15,544 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of MSC Industrial Direct by 160.6% in the fourth quarter. Squarepoint Ops LLC now owns 95,131 shares of the industrial products company’s stock worth $7,317,000 after acquiring an additional 58,632 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of MSC Industrial Direct by 38.3% in the first quarter. First Citizens Bank & Trust Co. now owns 5,346 shares of the industrial products company’s stock worth $442,000 after acquiring an additional 1,480 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in shares of MSC Industrial Direct by 31.4% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 67,179 shares of the industrial products company’s stock worth $5,167,000 after acquiring an additional 16,070 shares during the last quarter. 76.11% of the stock is currently owned by institutional investors and hedge funds.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.

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Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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